Australian organic baby and infant food brand Bubs has recorded its best ever quarter.
The company said it made $18.46 million in revenue in the three months to June 30, more than it made throughout the previous financial year.
“We are pleased to deliver the strongest quarter in the company’s history, with our fourth quarter sales exceeding that of the full year in 2018. The full year finished at A$51.3 million in gross revenues, which is up 179 per cent on prior year,” Bubs founder and CEO Kristy Carr (pictured) said.
“This demonstrates the validity of our continuing focus on our four-pillar growth strategy, combined with underlying investments in supply chain and capabilities, and key strategic channel partnerships, is delivering an aggressive growth trajectory and a platform for moving into profitable growth in the near term.”
In May 2019 Bubs, which was founded in 2014, announced that it would become the first company to offer Australian made certified organic grass-fed infant formula, after entering into a supply agreement with Fonterra Australia. The new Bubs Organic infant formula range began hitting shelves in Chemist Warehouse Pharmacies this month, and exports to China’s cross-border e-commerce channel is expected to follow shortly.